STEPHEN CRANSTON: Global investment market in SA opens up
Over the past year many new funds have emerged
Global investing is a lot easier recently. At one time a powerful cartel run by the Association of Collective Investments (ACI) ensured discreetly that only local managers’ products were on the shelves. There was Allan Gray’s Orbis, Stanlib, Old Mutual and not much else.
However, since the formidable Di Turpin handed over the reins of the ACI to an amalgamated body, the Association of Savings and Investment SA (Asisa), a few years ago, the market has opened up. Over the past year, under the auspices of Boutique Collective Investments, more new funds have emerged. Some of the names will be familiar only to mutual fund geeks like me —Fundsmith, Sands Capital and Lindsell Train, which you will be glad to know isn’t a specialist railway investor. There is even a fund I haven’t heard of, a global fund named in honour of the successful Guernsey Potato Peelers film...